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Schlumberger (SLB) Beats Q1 Earnings Estimates, Revenues Fall 36.6% Y/Y

Schlumberger Ltd. SLB just released its first quarter 2016 earnings results, posting earnings of $0.40 per share and revenue of $6.5 billion.  

Currently, SLB has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Schlumberger:                                     

1. Beat earnings estimates. The company posted earnings of $0.40 per share, topping our Zacks Consensus Estimate of $0.39 but down 38% sequentially, excluding charged and credits.

2. Missed revenue estimates. The company saw revenue figures of $6.520 billion, slightly behind our consensus estimate of $6.522 billion and reflecting a -36.6% year-over-year change.

3. Reported net income, including charges and credits, of $975 million.

4. Repurchased 7.1 million shares for $475 million during the quarter.

5. SLB was down $0.22, or 0.27%, to $80.05 as of 4:41 PM ET in after-hours trading shortly after its earnings report was released.

Schlumberger Limited is a global technology services company consisting of two business segments, Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services is the leading provider of exploration and production services, solutions and technology to the international petroleum industry. SchlumbergerSema is a leading information technology services company providing a unique combination of domain expertise and global capabilities delivered on a local basis.

Check back later for our full analysis onSchlumberger’s ___ quarter earnings report!

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